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Be Aware of Other Deductions - As part of filing your income tax you need to educate yourself as far as what deductions are allowable. Each year the government...

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Where To Cash Savings Bonds

A savings bond is a one way to save money, and to earn a decent return on the interest. Savings Bonds are Government issued debt notes that gain interest every six months. The savings bonds are sold in certain denominations beginning at $50 and ending at $10000. The savings bond matures in 5 years, and the purchaser collects the value of the note which includes the compounded interest..

Purchasing savings bonds is a great way to help the government, and help yourself save some money, and gain a decent retune, much better then a traditional savings account. The only downside is that the purchaser needs to hang on to the bond till it matures. It is not a good idea to buy savings bonds if you plan on A savings bond can be purchased at all banks, credit unions, and many other types of financial institutions.. They also can be purchased online through the treasury department directly. The purchaser needs to be aware the there is a penalty if the savings bond is redeemed before the maturity date. The purchaser can redeem the savings bond at the time the bond matures or he can hang on to it, and collect interest for up to 30 years.

Selling savings bonds is the governments way to increase assets to fund the operation costs of running the government a savings bond is basically a promissory note. The government agrees to pay back the bond with interest over a certain period of time. The purchaser is the lender, and the government is the borrower.

When a savings bond matures the purchaser can decide either to cash it in, or to hang on to it longer to gain more interest.. Savings bonds make great gifts for kids, and can teach them how to save money, and teach them financial responsibility

Savings bonds can redeemed, ( cashed in) in 5 years. The purchaser can wait longer, up to 30 years. The savings bond will gain interest thorough out this time. After the 30 years the bond stops gaining interest, Savings bonds can be redeemed at any bank, credit union or most financial institutions. The redemption can be in cash, or in the form of another government savings bond.

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